ISLAMABAD: The Finance Ministry has released a report detailing the financial performance of state owned enterprises (SOEs) revealing that loss making public sector companies inflicted a combined loss of Rs833 billion on the national exchequer during fiscal year 2024/25.

According to the report the National Highway Authority (NHA) recorded the highest losses at Rs295 billion. Quetta Electric Supply Company (QESCO) followed with losses of Rs112.7 billion while Peshawar Electric Supply Company (PESCO) reported losses of Rs92.7 billion. Pakistan Railways incurred a deficit of Rs60 billion.

Other significant losses were posted by National Power Parks Company (Rs46 billion) Neelum Jhelum Power Company (Rs29.4 billion) Pakistan Steel Mills (Rs26 billion), and Sukkur Electric Supply Company (SEPCO) (Rs25.31 billion). Pakistan Post and PASSCO each recorded losses exceeding Rs19 billion.

Despite widespread losses several SOEs remained profitable. Oil and Gas Development Company Limited (OGDCL) earned Rs170 billion in profit Pakistan Petroleum Limited (PPL) Rs90 billion and WAPDA Rs56.7 billion. Government Holdings and Karachi Port Trust also reported strong gains.

The report noted that Port Qasim generated profits exceeding Rs35 billion.

For comparison SOEs posted an even higher combined loss of Rs851 billion in fiscal year 2023/24 highlighting continuing financial challenges.